USA Rare Earth, Inc. (USAR) FY2026 Q2 Statement of Cash Flows
2026-04-01 to 2026-06-30
Statement of Cash Flows
2026-04-01 to 2026-06-30
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Chart details
USA Rare Earth, Inc. cash flow reconciliation, Apr 1, 2026 through Jun 30, 2026
Cash flows for Apr 1, 2026 through Jun 30, 2026. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Mar 31, 2026. Ending cash: Jun 30, 2026. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.
- Beginning cash on Mar 31, 2026
- 1,749,644,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
- Operating activities
- negative 56,868,000 US dollars. Net cash used.
- Net loss
- negative 11,963,000 US dollars
- Equity-based compensation expense
- 6,064,000 US dollars
- Depreciation
- 950,000 US dollars
- Amortization of other intangible assets
- 1,356,000 US dollars
- Amortization of right of use assets
- 175,000 US dollars
- Foreign currency transactions
- negative 139,000 US dollars
- Loss on fair market value of financial instruments
- negative 22,418,000 US dollars
- Other non-cash adjustments
- negative 42,000 US dollars
- Accounts receivable
- negative 579,000 US dollars
- Inventories
- negative 21,708,000 US dollars
- Prepaid and other assets
- negative 15,677,000 US dollars
- Accounts payable
- 2,192,000 US dollars
- Accrued and other liabilities
- 4,502,000 US dollars
- Deferred tax liability
- negative 514,000 US dollars
- Contract liabilities
- 671,000 US dollars
- Lease liability
- 194,000 US dollars
- Deferred grants
- 68,000 US dollars
- Investing activities
- negative 69,747,000 US dollars. Net cash used.
- Capital expenditures and equipment deposits
- negative 69,747,000 US dollars
- Financing activities
- negative 27,815,000 US dollars. Net cash used. The remaining amount is calculated by subtracting the other displayed items from the financing total. This quarter is the year to date less the prior quarter's year to date. The prior quarter reported part of this section under different lines (Financed leases), so Payments on financed leases and Payment of deferred government loan costs cannot be separated for this quarter. It may combine inflows and outflows.
- Proceeds from issuance of USARE LLC Preferred units - Preferred Stock
- 0 US dollars
- Payment of issuance cost - Preferred Stock
- 0 US dollars
- IPXX contribution of capital through merger
- 0 US dollars
- Prepayment of Forward Purchase Agreements
- 0 US dollars
- Proceeds from termination of Forward Purchase Agreements
- 0 US dollars
- Payment of securities issuance costs
- 0 US dollars
- Proceeds from issuance of common stock under PIPE financing
- 0 US dollars
- Proceeds from exercise of warrants
- 0 US dollars
- Repayment of revolving credit facility
- 0 US dollars
- Remaining financing cash flows, net (calculated)
- negative 27,815,000 US dollars
- Operating adjustment reconciliation
- 73,040,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
- financing displayed reconciliation
- 27,815,000 US dollars. Intermediate calculation joining the displayed items and the calculated net remainder. It does not establish gross cash receipts or payments and is not an additional cash flow.
- investing gross reconciliation
- 69,747,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
- Exchange-rate effect
- negative 845,000 US dollars
- Ending cash on Jun 30, 2026
- 1,594,369,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
- Cash sources and uses
- 1,749,644,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
- Net cash change
- negative 155,275,000 US dollars. Ending cash minus beginning cash.
- Cash flow / Net income
- Not meaningful. Operating cash flow divided by reconciliation net income for the same period. The ratio is not meaningful when net income is zero or negative.
- Operating cash flow
- negative 56,868,000 US dollars. Operating cash flow used in the free cash flow calculation.
- cash spent on productive assets
- 69,747,000 US dollars. These cash purchases are already included in investing activities above.
- Free cash flow
- negative 126,615,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.
Chart connections
- Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
- Financing contributions meet at a reconciliation junction before connecting to the net cash total.
- Investing contributions meet at a reconciliation junction before connecting to the net cash total.
- Operating reconciliation adjustments are not all independent cash receipts.
- Net loss −$11.96M − net operating adjustments $44.91M = operating cash −$56.87M. The loss reduces the earnings basis of the reconciliation; it is not a cash payment. The signed loss remains a deduction at the operating reconciliation junction.
- Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
- The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
- Operating cash flow minus cash spent on productive assets equals free cash flow: negative 56,868,000 US dollars minus 69,747,000 US dollars equals negative 126,615,000 US dollars.
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